iCar, the owner of a network of automotive portals, announces it has received a non-binding proposal from Autohome, as well as the first drawdown of its loan facility agreement with Catcha Group
Net operating cash flow improves by 37% for full year 2019 and by 25% year-on-year for 4Q.
iCar Asia strenthens its market position in Indonesia with proposed acquisition of Carmudi Indonesia by Oct 2019 for US$3 million.
Strong cash receipts from customers for 2Q19 of US$2.62 million.
The mini programme for WeChat will be live towards the end of May 2019.
Launches launched a Lead Market Place in Thailand, Indonesia and Malaysia.
Malaysia and Thailand record quarterly positive Ebitda and net cashflow for 1Q19.
In 2018, two out of three countries that iCar operated in turned profitable.
Support will help the startup consolidate its market position in Malaysia.
Malaysia and Thailand expected to be the key drivers of pushing the Group to breakeven by December 2019.